Four held for cheating banks

BANGALORE: Jalahalli police arrested four persons who allegedly used fake number plates for cars, cheated banks by not paying EMIs and were also evading tax. Five cars worth about Rs 30 lakh were recovered from them. The accused have been identified as Harsha (26), Krishna (19), Manjunatha alias Manja (19) and V Raghavendra Naidu (42), all residents MSR Nagar in Mathikere. During a routine check, the police stopped a car and found number plates of some other cars in it. Upon interrogation, it was learnt that the car belonged to Naidu, who was running an unit of food products in Mathikere. He revealed that he borrowed loans from banks to buy the cars. As he suffered losses in his business, he was unable to pay EMIs and tax. Hence, he used fake number plates on his cars fearing that the banks would identify his cars and seize the vehicles, the police said.­“He was also contemplating to create fake documents of cars and sell it to others. Scorpio, Honda City, Ford Icon, Maruti Esteem and Santro cars have been recovered from them,” the police added. The accused were produced before Seventh Additional Chief Metropolitan Magistrate Court on Monday and were remanded in judicial custody.